Understanding the Market | SINO GOLF HOLD surged over 43% in the closing session as Han Cheng Energy plans to acquire the controlling stake in the company, possibly to achieve a backdoor listing
SINO GOLF HOLD surged over 43% in the late trading session, and as of the time of writing, it rose 36.92% to HKD 0.089, with a transaction volume of HKD 7.7829 million. In terms of news, SINO GOLF HOLD recently announced that the administrator sold 2.601 billion shares and convertible bonds with a total principal amount of HKD 74.1 million to an independent third party, Han Cheng Energy Group (the offeror), for a total consideration of approximately HKD 93.34 million. Upon completion, the offeror will hold 50.11% of the company's equity. The announcement stated that Han Cheng Energy Group plans to maintain SINO GOLF HOLD's listing status on the Stock Exchange after the offer deadline. Public information shows that Han Cheng Energy Group is a private enterprise located in Hubei, with four business divisions: "automobile trade, energy, real estate, and finance," and two subsidiaries: "Shenzhen Dongfeng and Shenzhen Environment," with over 50 subsidiaries at various levels, covering six major sectors: "automobile trade, clean energy, real estate development, special vehicle manufacturing, intelligent sanitation, and financial investment," with an annual output value of nearly 10 billion yuan. Currently, Han Cheng Energy Group is owned 80% by Mr. Liu Jincheng and 20% by Mr. Liu Gang. Some analysts pointed out that one of the core purposes of Han Cheng Energy Group's acquisition of SINO GOLF HOLD may be to achieve its own reverse listing
According to Zhitong Finance APP, SINO GOLF HOLD (00361) surged over 43% in late trading, and as of the time of writing, it rose 36.92% to HKD 0.089, with a trading volume of HKD 7.7829 million.
In terms of news, SINO GOLF HOLD recently announced that the administrator sold 2.601 billion shares and convertible bonds with a total principal amount of HKD 74.1 million to an independent third party, Han Cheng Energy Group (the offeror), for a total consideration of approximately HKD 93.34 million. Upon completion, the offeror will hold 50.11% of the company's equity. The announcement stated that Han Cheng Energy Group plans to maintain SINO GOLF HOLD's listing status on the Stock Exchange after the offer deadline.
Public information shows that Han Cheng Energy Group is a private enterprise located in Hubei, with four business divisions: "automobile trade, energy, real estate, and finance," and two subsidiaries: "Shenzhen Dongfeng and Shenzhen Environment." It has over 50 subsidiaries at various levels, covering six major sectors: "automobile trade, clean energy, real estate development, special vehicle manufacturing, intelligent sanitation, and financial investment," with an annual output value of nearly 10 billion yuan. Currently, Han Cheng Energy Group is owned 80% by Mr. Liu Jincheng and 20% by Mr. Liu Gang. Some analysts pointed out that one of the core purposes of Han Cheng Energy Group's acquisition of SINO GOLF HOLD may be to achieve its own backdoor listing
